Insider Buying: Charter Communications, Inc. (NASDAQ:CHTR) Director Buys 360 Shares of Stock

Key Points

• Balan Nair, director of Charter Communications, purchased 360 shares at an average cost of $274.21, totaling $98,715.60, increasing his position by 3.89% to 9,622 shares.
• Charter Communications reported EPS of $9.18 for the last quarter, missing the consensus estimate of $10.06, but showing a revenue increase of 0.6% year-over-year.
• Analysts have set a target price range for Charter communications, with estimates ranging from $275 to $415, reflecting differing opinions on the stock's performance.

Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report) Director Balan Nair purchased 360 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were acquired at an average price of $274.21 per share, with a total value of $98,715.60. Following the completion of the acquisition, the director owned 9,622 shares of the company's stock, valued at approximately $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Charter Communications Trading Down 1.3%

NASDAQ:CHTR traded down $3.54 during mid-day trading on Wednesday, hitting $262.44. The company had a trading volume of 809,756 shares, compared to its average volume of 1,459,735. Charter Communications, Inc. has a fifty-two week low of $260.76 and a fifty-two week high of $437.06. The business's fifty day moving average is $376.70 and its two-hundred day moving average is $369.97. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $35.85 billion, a P/E ratio of 7.18, a P/E/G ratio of 0.59 and a beta of 1.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its earnings results on Friday, July 25th. The company reported $9.18 earnings per share for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.77 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same period in the previous year, the company posted $8.49 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts expect that Charter Communications, Inc. will post 38.16 earnings per share for the current year.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently modified their holdings of the business. SouthState Corp acquired a new stake in Charter Communications in the 1st quarter valued at approximately $25,000. Atlantic Union Bankshares Corp acquired a new stake in Charter Communications in the 2nd quarter valued at approximately $25,000. Salem Investment Counselors Inc. raised its position in Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company's stock valued at $26,000 after buying an additional 61 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Charter Communications in the 2nd quarter valued at approximately $28,000. Finally, ST Germain D J Co. Inc. raised its position in Charter Communications by 1,283.3% in the 1st quarter. ST Germain D J Co. Inc. now owns 83 shares of the company's stock valued at $31,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company's stock.

Wall Street Analyst Weigh In

CHTR has been the topic of a number of research reports. Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a research report on Monday, May 19th. BNP Paribas reiterated an "underperform" rating and issued a $290.00 price target on shares of Charter Communications in a research report on Thursday, April 10th. Bank of America upped their price target on Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, Morgan Stanley upped their price target on Charter Communications from $385.00 to $415.00 and gave the company an "equal weight" rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $410.59.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.